Related Content

Challenge

By its very nature, facultative reinsurance involves a considerable amount of information processing based on complex rules and decision workflows. An automated solution to verify and quote prices was required to provide external underwriters convenient access to this offering. At the same time the portal had to be flexible enough to support the changing business requirements and needs of the company’s clients.

“What we needed for the reinsurance programs business – and before many client companies would even consider our proposal – was a more efficient mechanism for clients to report the risks subject to a contract.” says Philip Augur, Chief Operations Officer at Arch Re Fac. A new, customizable self service portal would be central to Arch Re Fac’s program business, as it provides underwriters and clients the information they need with just a few clicks.

The implementation cycle with Mendix is the fastest I have experienced in my entire career. Keeping pace with business change has been key to our success.

Phil AugurCOO, Arch Re Facultative

Solution

Mendix’s application platform was chosen because it provided Arch Re the flexibility and speed to build the specific application needed to differentiate its business. The application, the “Program Portal”, allows Arch Re Fac to configure new reinsurance programs based on their clients’ unique characteristics and pricing structures quickly and easily. Once a program has been created, the respective underwriters and their managers have access to an array of functions through the Program Portal, giving them a one-stop-shop for management and processing of these products.

Underwriters can easily submit a new risk and have the application automatically verify whether or not that risk fits the terms of the associated contract. Complex workflow rules designed in Mendix’s application platform enabled the team to build logic that would instantly provide pricing if the risk fit the terms of the contract, enabling a faster submission and binding process for Arch Re Fac’s clients.

Risks that do not meet the terms of the contract can be submitted for manual review and special acceptance. The Program Portal also communicates Arch Re Fac’s structure and price for the Special Acceptance to the underwriter, who can subsequently bind using a simple application function.

The reinsurance program portal provides underwriters and managers a real-time overview of their bordereaux, as well as any pending tasks and activities, through a convenient online dashboard. Portal administrators are able to authorize, manage and control user access to all programs and risks using Mendix’s built-in security features.

Results

The reinsurance program portal was delivered by a team of two business engineers through weekly iterations of the application. They worked collaboratively with business experts for general business requirements, as well as program experts for client-oriented input and feedback.

The team delivered the application well within time and budget, and the application has generated an ROI within the first year of implementation. “Mendix’s application platform makes it easy for us to maintain and extend the portal as business requirements evolve” comments COO Phil Augur.

“And deploying it instantly in the secure Mendix cloud environment further helped us show results quickly and focus on the business need. The Mendix Cloud deployment eliminated significant cost, resource and maintenance effort which we did not want to burden our business with.”

Phil Augur, Chief Operations Officer at Arch Re Fac, adds “The application implementation cycle with Mendix is the fastest I have experienced in my entire career – it allowed us to visually model incredibly complex application logic right from the beginning of the process and in a way that anyone can understand.”

About Arch Re

Arch Re Facultative is a supplier of property facultative reinsurance in the US and Canada; and a subsidiary of the Arch Capital Group, a worldwide provider of insurance and reinsurance products. Established in 2007, Arch Re Fac is a young, dynamic company with a focus on efficiency and a firm commitment to customer service.